POLYVINYL CHLORIDE (PVC) MARKET ANALYSIS

Polyvinyl Chloride (PVC) MarketSize and Trends

The global Polyvinyl Chloride (PVC) market size was valued at US$ 55.73 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.8 % from 2023 to 2030. PVC Market is projected to grow at a substantial CAGR during the forecast period 2023-2030. The growing demand for construction and automobile industry is expected to boost the market growth. However, the environmental and health hazards during PVC production, usage, and disposal may hamper the market growth. Nevertheless, the growing demand for healthcare and electrical & electronic applications is expected to provide opportunities for the market in the future. The increasing demand for medical grade PVC is also owing to its abrasion resistance, low weight, and durability

Global Polyvinyl Chloride (PVC) Market Trends:

Expanding application of PVC along with rapid urbanization

PVC plastic is used in a variety of products including pipes, windows, doors and fences, insulations, roofing, sidings, floorings, and more. It is an extremely durable material that can be molded into numerous shapes and sizes to meet the requirements of the end-use industry. PVC is also highly resistant against chemical corrosion, abrasions, fire, and extreme temperatures. This is an important factor for ensuring the safety of human beings in harsh environments such as mining and industrial sites.

Growing trend energy-efficient material

PVC is an efficient material for ducting. It is a better insulator than metals, which allows hot and cold air to travel longer distances in buildings. This can help to reduce energy costs in the long run. Moreover, the construction industry is thriving in emerging economies like India and China. This is resulting in the increased demand for construction materials, including pipes and fittings, which are being manufactured from PVC.